Ugg Is Facing A Terrifying Reality Not Even Tom Brady Can Save

Ugg boots, owned by Decker Outdoor Corp., reported earnings last week, and the results were bad.

Profits were down 31 percent, mostly because women aren't buying Ugg boots. The company said it was going to slash prices to draw more interest to the boots, but even that isn't guaranteed to help.

Until now, Ugg's biggest obstacle was image. The boots were seen as sloppy and something women wore with sweatpants.

So Ugg started advertising in fashion magazines to seem more chic. FamousVogue creative director Andre Leon Talley even came out to endorse the boots, wearing them at New York Fashion Week.

Ugg also hired Tom Brady as a spokesmodel to try and draw men into its stores. So far that move has been successful, and sales are up with the male contingent.

But Ugg faces a terrifying reality: women's boots might be going out of style.

"The worst is yet to come," Sam Poser, an analyst at Sterne Agee, told the Huffington Post, adding that "weaker Uggs sales might not just be due to weather, but may indicate that the boots have fallen out of fashion."

If that's true, Ugg's problems become a lot more daunting. While the company is making strides with men, women's boots make up the vast majority of its business.

Women are unlikely to shell out for Ugg flats or loafers because they are already loyal to other brands. Boots are the core product.

If boots are actually out of style, Ugg will have just have to wait for the fashion cycle to turn around.